TD Asset Management Inc Buys 152,326 Shares of PepsiCo, Inc. $PEP

Key Points

• TD Asset Management increased its PepsiCo stake by 6.8%, acquiring 152,326 additional shares to hold 2.38 million shares valued at approximately $322 million. Institutional investors collectively own 73.07% of the company.
• Analysts maintain a consensus “Hold” rating on PepsiCo, with an average price target of $157.90. Recent firms lowered their targets, while the stock recently traded near $142.
• PepsiCo reported quarterly earnings and revenue slightly above expectations, with revenue up 6.4% year over year. The company also declared a quarterly dividend of $1.48, representing a 4.2% annualized yield.

TD Asset Management Inc lifted its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 6.8% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,378,194 shares of the company's stock after acquiring an additional 152,326 shares during the period. TD Asset Management Inc owned 0.17% of PepsiCo worth $322,007,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Boomfish Wealth Group LLC grew its holdings in PepsiCo by 0.8% during the second quarter. Boomfish Wealth Group LLC now owns 10,861 shares of the company's stock valued at $1,471,000 after purchasing an additional 86 shares during the last quarter. Chilton Capital Management LLC boosted its holdings in shares of PepsiCo by 3.5% during the 2nd quarter. Chilton Capital Management LLC now owns 3,252 shares of the company's stock worth $440,000 after buying an additional 110 shares during the period. River Wealth Advisors LLC grew its stake in PepsiCo by 1.8% in the 2nd quarter. River Wealth Advisors LLC now owns 61,985 shares of the company's stock valued at $8,393,000 after buying an additional 1,099 shares during the last quarter. BCGM Wealth Management LLC raised its holdings in PepsiCo by 6.0% in the 2nd quarter. BCGM Wealth Management LLC now owns 1,935 shares of the company's stock worth $262,000 after acquiring an additional 109 shares during the period. Finally, SmartHarvest Portfolios LLC boosted its holdings in PepsiCo by 6.7% during the second quarter. SmartHarvest Portfolios LLC now owns 2,947 shares of the company's stock valued at $399,000 after acquiring an additional 184 shares during the period. Institutional investors own 73.07% of the company's stock.

Insider Buying and Selling

In related news, EVP David Flavell sold 2,900 shares of the firm's stock in a transaction on Monday, July 27th. The stock was sold at an average price of $139.54, for a total transaction of $404,666.00. Following the completion of the sale, the executive vice president directly owned 74,825 shares of the company's stock, valued at $10,441,080.50. This trade represents a 3.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.12% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Wells Fargo & Company cut their price objective on PepsiCo from $150.00 to $140.00 and set an "equal weight" rating for the company in a research report on Friday, July 10th. Sanford C. Bernstein set a $134.00 price target on PepsiCo in a report on Friday, July 10th. Bank of America reduced their price objective on PepsiCo from $173.00 to $164.00 and set a "neutral" rating for the company in a research report on Thursday, June 25th. Piper Sandler set a $176.00 target price on shares of PepsiCo in a research report on Thursday, July 9th. Finally, TD Cowen reduced their price target on shares of PepsiCo from $150.00 to $145.00 and set a "hold" rating for the company in a report on Friday, July 10th. Seven analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $157.90.

PepsiCo Trading Down 0.4%

Shares of PEP opened at $142.08 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.74 and a debt-to-equity ratio of 1.91. The stock has a 50 day simple moving average of $140.03 and a 200-day simple moving average of $150.34. PepsiCo, Inc. has a 1 year low of $133.73 and a 1 year high of $171.48. The stock has a market cap of $193.92 billion, a PE ratio of 18.62, a PEG ratio of 3.13 and a beta of 0.35.

PepsiCo (NASDAQ:PEP - Get Free Report) last issued its quarterly earnings data on Thursday, July 9th. The company reported $2.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.19 by $0.01. The company had revenue of $24.18 billion during the quarter, compared to analysts' expectations of $23.95 billion. PepsiCo had a return on equity of 54.63% and a net margin of 10.78%.The business's revenue was up 6.4% on a year-over-year basis. During the same period last year, the business earned $0.92 earnings per share. PepsiCo has set its FY 2026 guidance at 8.550-8.710 EPS. On average, sell-side analysts predict that PepsiCo, Inc. will post 8.57 EPS for the current fiscal year.

PepsiCo Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 4th will be issued a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend is Friday, September 4th. PepsiCo's payout ratio is presently 77.59%.

PepsiCo Profile

PepsiCo, Inc NASDAQ: PEP is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay's, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.

Want to see what other hedge funds are holding PEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PepsiCo, Inc. (NASDAQ:PEP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source